Nvidia posts record $81.6B quarterly revenue on AI spending boom

Nvidia announced record-breaking financial results for the first quarter of fiscal 2027, ending April 26, with total revenue reaching $81.6 billion—an 85% increase from the same period last year and a 20% rise from the prior quarter. Net profit surged to $58.3 billion, more than tripling compared to $18.8 billion in the year-earlier period, reflecting its dominant position in the AI hardware market. The company’s data center segment, which includes its high-performance GPUs, generated $75.2 billion in revenue, up 92% year-over-year. These GPUs, originally designed for gaming graphics, now power AI systems globally, making Nvidia the world’s most valuable company. Despite speculation about cooling AI spending, demand for Nvidia’s products remains strong. Since its February earnings report, the company secured a $10 billion investment in Anthropic and a multi-million-dollar GPU deal with Meta. Additionally, Nvidia partnered with CoreWeave to develop five gigawatts of AI infrastructure by 2030. Nvidia excluded China’s data center revenue from its outlook due to ongoing geopolitical restrictions, though CEO Jensen Huang expressed confidence that China would eventually allow access to high-end US AI chips. The U.S. had previously barred Nvidia’s H200 chip from China over national security concerns, but Beijing is accelerating domestic chip development to reduce reliance on foreign technology. Analysts note that Chinese tech firms have not yet adopted restricted US AI chips, as the country pushes for self-sufficiency in advanced semiconductor production. The competition between the U.S. and China for AI dominance continues to shape Nvidia’s market access and growth strategy.